The agreement was signed by Esther Waititu, chief financial services officer of Safaricom Kenya, and Elsa Muzzolini, chief financial services officer of Safaricom Ethiopia.

Kenya's Safaricom has expanded its popular M-PESA Global service to Ethiopia.

In partnership with sister company Safaricom Ethiopia, the two announced plans to make cross-border mobile money transactions faster, safer, and more affordable.

M-PESA customers can now send money to Ethiopia directly from their M-PESA wallet.

According to both telcos, this is especially helpful for Ethiopians who live in Kenya, Kenyans who work in Ethiopia and anyone with business ties in both countries.

According to Safaricom, this agreement strengthens financial integration in East Africa by promoting the adoption of digital payments and improving local economies.

M-PESA handles an impressive volume of transactions annually. In the financial year ending March 2024, the fintech company processed 33 billion transactions.

Esther Waititu, Safaricom Kenya’s chief financial services officer, said: “This collaboration resonates with our commitment to deliver innovative financial solutions that cater to the evolving needs of our customers.

“With this service, we are making cross-border transfers and bill payments across the region more accessible, efficient, and cost-effective than ever before. This partnership will benefit our customers who may need to send money to Ethiopia and provide a reliable and affordable option for businesses to transact."

Speaking during the signing ceremony, Elsa Muzzolini - Safaricom Ethiopia’s chief financial services officer also welcomed the collaboration.

“The extension of these services with M-PESA Kenya comes at the right time, where the revised Ethiopian Forex policy is encouraging the diaspora and business owners to embrace digital payments to send money home and fund their operations in Ethiopia.

“Our M-PESA Ethiopia customers should now be able to receive safe and affordable transfers from M-PESA Kenya thanks to this partnership, which will further promote the region's adoption of digital payments. We look forward to a successful collaboration,” she said.